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Wednesday, July 31, 2013

The Dow Jones and Stock Market traded higher on Wednesday. Will the stock market go up or down on Thursday? Keep tabs on the stock market futures which will predict the open on Thursday. If you are a stock trader or investor, check out my stock picks group. We are making some big trades in there right now. Sign in and sign up.

The Dow Jones Industrial Average closed at 15503 on 7/31/13, as the stock market was volatile today. All in all, it was a good day for the stock market and all eyes will shift to the jobs report on Friday. Keep an eye on earnings from YELP & TRLA tonight. We will be watching this in the stock picks group.

Tesla (TSLA) stock continues to trade in the $130's. Tesla (TSLA) is one of the strongest stocks I've seen in awhile but earnings will set the tone very soon. Tesla (TSLA) will have resistance between $140-$143 with support at $128 and $125. TSLA is a strong buy below $110.

Apple (AAPL) stock is back testing $450 on Wednesday. Apple (AAPL) will now have resistance located at $457-$460. Apple (AAPL) will have strong support in the $430's. The stock has seen is best one week stock move since late 2012. Apple (AAPL) is a strong buy below $420.

Facebook (FB) stock rallied above $38 on Wednesday but then dropped. Facebook (FB) hit a new 52 week high located at $38.31. FB won't have any major resistance until $38-$40. Pullbacks below $36 are a strong buy until further notice.

Facebook (FB) showed last week that they are killing it in mobile. If this continues into next quarter, you will be looking at a $45 stock after October 2013 earnings.

Below is a list of stocks to buy on Thursday. These stocks are active and have the potential to break out this week.

Noodles & Company (NDLS) - NDLS broke out today and hit $46.72. Right now, NDLS has closing resistance between $45-$46. Noodles & Company (NDLS) will release earnings August 8, 2013.

Tesla (TSLA) - Shares of Tesla (TSLA) topped out around $137 Tuesday and then dropped back to $128. TSLA will report earnings in about 8 days now. Buy TSLA below $110, sell into rallies. Resistance is located at $140.

Facebook (FB) - Facebook (FB) reported blow out earnings last week thanks to mobile success. FB will have resistance around $38 but then nothing until $40. Buy FB below $35

RetailMeNot (SALE) - RetailMeNot (SALE) went public two weeks ago and is trading near $29. I view SALE as a buy below $30, strong buy below $25.

SolarCity (SCTY) - SolarCity (SCTY) is now trading in the $42's. SCTY is a strong buy below $39. Resistance is located at $45.75.

Apple (AAPL) - Apple (AAPL) is now trading above $450 after a better than expected earnings report last week. Watch $457 on the upside and $434 on the downside. Trade off of these two levels.

Zillow (Z) - Zillow (Z) stock is now trading in the low $70's and is very expensive. Zillow (Z) is a strong buy below $58.

Netflix (NFLX) - Netflix (NFLX) stock is now trading near $245 again. NFLX will have support around $220 per share. Also keep an eye on RVLT & CLVS which are the hottest stocks in 2013 above $2. Biggest Gainers 2013

Ecotality (ECTY) - ECOtality, Inc. (ECTY) is the top penny stock in 2013 - ECTY will have resistance at $1.57 this week.